Kassam-Adams Shahir 4
4 · Forian Inc. · Filed May 15, 2026
Research Summary
AI-generated summary of this filing
Forian (FORA) Director Shahir Kassam-Adams Disposes 251,184 Shares
What Happened
- Shahir Kassam‑Adams, a director of Forian Inc. (FORA), had a total of 251,184 shares and option interests reported as dispositions to the issuer on May 15, 2026. The Form 4 lists dispositions of 171,184 shares, 5,000 shares, and five derivative entries of 15,000 each (75,000) — in total 251,184. No per‑share price or cash consideration is reported; these dispositions are tied to the company’s completed merger and the cancellation of stock and options.
Key Details
- Transaction date: May 15, 2026. Form filed: May 15, 2026 (timely).
- Transaction code: D (Disposition to issuer). Price: N/A; no consideration reported.
- Breakdown: 176,184 common shares (171,184 + 5,000) and 75,000 in derivative/option interests (five × 15,000) were reported as disposed/cancelled.
- Shares/options were cancelled as part of a tender offer and merger (see footnotes): Reporting person had previously contributed shares to the buyer and, at the merger’s effective time, each share held by the buyer and each option held by the reporting person were cancelled without consideration.
- Shares owned after transaction: effectively zero (all reported shares/options were cancelled).
Context
- These were not open‑market sales but disposals/cancellations resulting from a corporate transaction (tender offer and merger). For derivative entries, this effectively means stock options were cancelled rather than exercised for cash or stock. Such cancellations are procedural outcomes of M&A and do not necessarily indicate trading sentiment by the insider.
Insider Transaction Report
Form 4Exit
Forian Inc.FORA
Kassam-Adams Shahir
Director
Transactions
- Disposition to Issuer
Common Stock
[F1][F2]2026-05-15−171,184→ 0 total(indirect: By LLC) - Disposition to Issuer
Common Stock
[F1][F2]2026-05-15−5,000→ 0 total - Disposition to Issuer
Stock Option (right to buy)
[F1][F2]2026-05-15+15,000→ 0 totalExercise: $2.06Exp: 2035-03-26→ Common Stock (15,000 underlying) - Disposition to Issuer
Stock Option (right to buy)
[F1][F2]2026-05-15+15,000→ 0 totalExercise: $3.20Exp: 2034-03-27→ Common Stock (15,000 underlying) - Disposition to Issuer
Stock Option (right to buy)
[F1][F2]2026-05-15+15,000→ 0 totalExercise: $3.14Exp: 2033-03-23→ Common Stock (15,000 underlying) - Disposition to Issuer
Stock Option (right to buy)
[F1][F2]2026-05-15+15,000→ 0 totalExercise: $6.81Exp: 2032-03-17→ Common Stock (15,000 underlying) - Disposition to Issuer
Stock Option (right to buy)
[F1][F2]2026-05-15+15,000→ 0 totalExercise: $12.18Exp: 2031-03-05→ Common Stock (15,000 underlying)
Footnotes (2)
- [F1]On April 2, 2026, Forian Inc., a Maryland corporation (the "Issuer"), entered into that certain Agreement and Plan of Merger (the "Merger Agreement") with 2025 Acquisition Company, LLC, a Delaware limited liability company ("Parent"), and Bravo Merger Sub, Inc., a Maryland corporation and wholly owned subsidiary of Parent ("Merger Sub"). Concurrently with the execution of the Merger Agreement, the Reporting Person and other members of a consortium entered into that certain Amendment to the Consortium Agreement, dated as of August 25, 2025, pursuant to which, among other things, the Reporting Person contributed all shares of the Issuer's common stock (the "Shares") held by the Reporting Person to Parent.
- [F2]On May 15, 2026, pursuant to the terms of the Merger Agreement, Parent and Merger Sub completed a tender offer for the Shares, followed by the merger of Merger Sub with and into the Issuer (the "Merger"), with the Issuer surviving the Merger as a wholly owned subsidiary of Parent. At the effective time of the Merger, each Share held by Parent and each stock option held by the Reporting Person as of immediately prior to the Effective Time were cancelled without any consideration payable therefor.
Signature
/s/ Max C. Wygod, Attorney-in-Fact|2026-05-15